October 17, 2017 l Boston. The 2017 Best Practices exclusive workshop and awards program for the industry’s truly elite firms will highlight content from the 2017 Adviser Technology Study as well as the 2017 Compensation and Staffing Study”

House approves bill to streamline insurance licensing

Advisers registered in one state could join new organization and sell insurance in other states

The House of Representatives today overwhelmingly passed legislation that would make it easier to obtain licenses to sell insurance in multiple states.

The bill, approved 397-6, would create the National Association of Registered Agents and Brokers as a clearinghouse for nonresident-insurance-agent and broker licensing. Financial advisers who already are registered in one state could join the organization to become licensed to sell insurance in all other states.

Currently, advisers must make those applications state by state. The bill would allow states to maintain their regulatory authority over insurance.

The House passed NARAB legislation in the previous Congress, but it died in the Senate last year.

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